Minister for Finance, Commerce and Business Development Hon. Esrom Immanuel has called for stronger global support for Pacific economies and improved access to climate finance as the region faces growing global uncertainty and climate risks.
Speaking at the Pacific Islands High-Level Conference organised by the International Monetary Fund in Nadi, Hon. Immanuel said Pacific economies remain highly vulnerable to global shocks due to their small size, geographic isolation and limited revenue bases.
“Our economies are small, geographically dispersed and highly exposed to global shocks. Economic growth has been low and volatile while productivity constraints and high business costs limit our ability to compete in international export markets,” he said.
Hon. Immanuel also highlighted the impact of rising global oil prices and geopolitical tensions, warning that higher fuel costs place additional pressure on businesses, inflation and household living standards across the region.
He further stressed that climate change remains an existential threat to Pacific Island countries and called for simpler and more accessible climate financing.
“Pacific countries cannot continue to spend years navigating complicated funding processes while climate vulnerabilities intensify,” he said.
Hon. Immanuel said the conference provides an important platform for Pacific policymakers and development partners to discuss practical solutions to strengthen economic resilience and support sustainable development across the region.
